SECP working towards Ease of Doing Business

The recent measures by SECP to make the process of companies incorporation easy and hassle free, led to 19 % increase in registration of new companies in Oct 2019. The SECP has registered 1,659 new companies, raising the number of total registered companies to 107,062. Amongst new incorporations, 96 % companies were registered online and 43 % of the companies were registered in same day. … Continue reading SECP working towards Ease of Doing Business

SECP reforms further.

The Securities and Exchange Commission of Pakistan (SECP) has been undertaking a reform agenda to revitalize the capital market and promote expansion of investor base. It is felt that small and medium sized brokerage houses, alongside large ones, have a critical role to play in this regard.  Based on representations received from various stakeholders including small sized brokers and recommendations of the Stock Market Reforms … Continue reading SECP reforms further.

Retailers given DEC 1st Deadline by FBR

The Federal Board of Revenue (FBR) on Thursday asked the big retailers to ensure installation of its point-of-sale invoicing app into their systems by December 1 to report turnover with the tax authority on real-time basis. If the retailers fail to link their systems with the FBR, they would not be entitled to the reduced 14% sales tax, according to the FBR’s notification. The FBR, … Continue reading Retailers given DEC 1st Deadline by FBR

SECP revokes licenses

The Securities and Exchange Commission of Pakistan has revoked the licences of 22 ‘not-for-profit’ organisations for failing to provide financial details, a press release by the Commission said on Wednesday. According to the press release, the licences to operate were cancelled under the Companies Act, 2017, which necessitated that they provide a statement of accounts to the Commission for the first financial quarter (July-September) of … Continue reading SECP revokes licenses

Monthly Statements mandatory for Brokers

Securities and Exchange Commission of Pakistan (SECP) will make it mandatory for securities brokers to file monthly statements of net capital balance and liquid capital with the securities exchange and clearing house. According to the SRO 1162 (I)/2019 issued here on Monday, the FBR has issued draft amendments to the Securities Brokers (Licensing and Operations) Regulations, 2016. Under the new regulations, a securities broker shall … Continue reading Monthly Statements mandatory for Brokers

SECP receives recommendation from Capital Markets Committee

 A committee, formed to find ways to break the capital market bottlenecks, has submitted its recommendations with Securities and Exchange Commission of Pakistan (SECP), which will assess them for further action, a statement said on Thursday. Capital Markets Committee was constituted earlier this month by the SECP. It comprised representatives of the stockbrokers, mutual fund association, professionals with banking experience and CEOs of Pakistan Stock … Continue reading SECP receives recommendation from Capital Markets Committee

SECP reduces and waives off some Tariffs

The Securities and Exchange Commission of Pakistan (SECP) on Monday announced that it has approved a revision in tariff structures of the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company of Pakistan Limited (CDC). According to a press release issued by the commission, the decision was taken to foster capital market development and broaden the investor base. “The SECP had advised … Continue reading SECP reduces and waives off some Tariffs

Brokers can now Sell Shares – PSX

The government has completely pulled out restriction on brokers to sell their stake in the Pakistan Stock Exchange (PSX), a move that is likely to give a shot in their arm with liquidity and diversify shareholders. The Securities and Commission of Pakistan (SECP) withdrew ban on sale of 15 percent PSX shares held by brokers following completion of one year of the stock market’s public … Continue reading Brokers can now Sell Shares – PSX

Sticky post

FINPERIAL organises Financial Literacy seminar in Islamabad

Finperial is a startup providing financial consultancy to other startups and SMEs based in Twin cities. ICON event management and Be The Change along with Finperial organised a free financial literacy seminar for non financial entrepreneurs in Islamabad on 14th September 2019. The event was held at WeCreate Centre F11. Hira Jalal ACCA, founder of Finperial was the keynote speaker. The seminar was attended by … Continue reading FINPERIAL organises Financial Literacy seminar in Islamabad